Current Attempt in Progress The ledger of Cullumber, Inc. on March 31, 2027, includes the following...

 

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Current Attempt in Progress The ledger of Cullumber, Inc. on March 31, 2027, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance $2,016 Supplies 2,100 Equipment 25,200 Unearned Service Revenue $7,560 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $252 per month. 2. Supplies on hand total $924. 3. The equipment depreciates at $420 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Date Account Titles and Explanation 1. Mar. 31 Insurance Expense Debit 580 Credit Current Attempt in Progress The ledger of Cullumber, Inc. on March 31, 2027, includes the following selected accounts before adjusting entries. Debit Credit Prepaid Insurance $2,016 Supplies 2,100 Equipment 25,200 Unearned Service Revenue $7,560 An analysis of the accounts shows the following. 1. Insurance expires at the rate of $252 per month. 2. Supplies on hand total $924. 3. The equipment depreciates at $420 per month. 4. During March, services were performed for two-fifths of the unearned service revenue. Prepare the adjusting entries for the month of March. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) No. Date Account Titles and Explanation 1. Mar. 31 Insurance Expense Debit 580 Credit

Answer rating: 100% (QA)

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